Princeton endowment managers’ pay raise tops Brown, Harvard

Princeton University paid four of its endowment managers a combined $9.2 million in 2013, a 46 percent increase from a year earlier and four times the increase Harvard University paid its top investors.

Andrew Golden, the president of Princeton University Investment Co., the company known as Princo that manages the school’s $18.2 billion endowment, collected $3.9 million in total compensation last year. The 55-year-old’s remuneration included a 94 percent increase in retirement and deferred compensation and a 48 percent jump in bonus pay, according to the university’s latest tax return.

“It’s easy to whack these guys,” Charles Skorina, founder of a San Francisco-based executive search firm specializing in investment management, said by phone. “It looks big in percentage terms, but it’s a basis point or two compared to the endowment.”